Stay updated with breaking news from Sixteenth Amendment. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Supreme Court Monday rejected an appeal from several states challenging Congress's cap on state and local taxes that can be deducted from federal taxable income.
Democrats always want to raise taxes, we know this quite well. Now it looks as if Trump’s Supreme Court picks are paying off. In 2018, New York, New Jersey, Maryland, and Connecticut sued the federal government over the tax deduction cap, which was implemented by then-President Trump as part of the tax reform law. When| USSA News
The U.S. Supreme Court on Monday rejected an attempt by Democratic-led states to get a massive tax cut for the rich. The court has declined to review a challenge brought by New York, Connecticut, New Jersey, and Maryland to the $10,000 federal cap on state and local property and income tax deductions, also known as| USSA News
A tax on phantom income is likely a harbinger of increasingly destructive proposals yet to come.
Blue states like New York and California want to restore the unlimited state and local tax, or SALT, deduction. Biden’s DOJ is trying to preserve the $10,000 limit—even though Trump enacted it to punish Democrats.